VAT Repayments – Change of HMRC Policy
There is a new procedure that HMRC appear likely to follow in the case of a VAT repayment.
Previously, the Revenue would repay most overpayments automatically, but it appears that many more repayments will now be subject to checks.
The consequence of this is that specific data will have to be sent to HMRC before the repayment is made. Unfortunately, the information required is fairly detailed and extensive.
HMRC list the information required here: https://www.gov.uk/guidance/send-details-to-support-your-vat-repayment-claim
If you need help with this, or want any more information, please contact Alan Rolfe on 023 8046 1235.